Japan says no limits to Tepco liability from nuclear disaster

[AsahinaKimi]

TOKYO (Reuters) – Tokyo Electric Power should face unlimited liability for damages stemming from its crippled nuclear power plant, Chief Cabinet Secretary Yukio Edano said on Monday, indicating Japan's government will take a hard line against the utility in its rescue plan.

Officials from the government, Tokyo Electric (9501.T), and creditor banks have been scrambling to craft a scheme that would allow the utility to cope with the massive bill of compensating displaced residents while staying in business as a private firm.

The plan under discussion would create a fund to provide loans for and buy preferred shares from Tokyo Electric, commonly known as Tepco. Other utilities would pay premiums as a buffer against future accidents, and Tepco would repay the fund from its profits over several years, sources with knowledge of the talks have told Reuters.

http://news.yahoo.com/s/nm/20110502/bs_nm/us_japan_tepco

[defendandprotect]

1. What a joke? What does it cost to replace the Pacific -- or to remove radiation

that has floated across the US?

How much of their own clean up in Japan could Tepco possibly cover --

aren't the estimated costs even now over $300 billion?